Starting an event planning business can feel like a daunting task, it is easy to get lost along the way, however, these 4 simple steps can help you turn your idea into a reality.
1. Research Your Market
The first step is researching your market. This is vital as it will help you develop your niche for your event planning services and which areas of the business to target. Perhaps you want to fill a gap with something that is not already out there or maybe you have a passion for weddings and are looking to focus on that particular area. Market research will help guide you to the best fit for you. This can be done organically through search, Google Keywords Planner, or through the use of SemRush for example. Many of these platforms are free or offer a free trial to start and are worth having a look at.
2. Validate Your Idea
Contrary to what many new early-stage entrepreneurs might believe, the logo of your business is not the first thing you need to start with, although it is a fun task. You must think about ways of testing your business idea before committing to buying supplies, setting up a website, printing business cards, etc. Create a brief presentation of your services, a 1-2 page template from Canva is perfect.
Here are some easy to execute ideas for testing your event business idea:
Make a list of people in your circle of friends that have events this year/next year. Talk to them about your services to gauge if you can find your first clients this way.
Make a list of event services/types of decor and start posting on Social Media about them, then encourage people to book a call or message you if interested.
Ask friends for referrals. In your circle of friends, there is likely someone getting ready to propose, someone getting married, someone in need of a hen party, or celebrating an important anniversary, etc.
The above actions should give you a feeling about whether potential clients would like to work with you or not.
3. Create a Business Plan
Step three involves setting up a viable business plan based on your market research and your areas of expertise. This is the part where you must consider what valuable skills and traits you have that you could capitalise on. This will help you understand if you may need to involve an outside party or service to help you get the maximum results out of your business. A good business plan will outline the objectives and goals of your future events business and clear, well-defined steps on how to achieve these goals. Start small and build your way from there, set attainable goals to ensure you meet your targets and build a successful base to build from. The Business Model Canva and a basic financial plan of costs vs required revenue represent a good baseline.
4. Get Your Business Set-Up
This stage involves setting up the tangible aspects of the business, including deciding on a name and securing a domain. Building a website is a good starting point to launch yourself into the business world, this can be done easily by using platforms such as WordPress or Ghost. Setting up business social media channels such as Instagram and LinkedIn are also good ways to effectively build your network and customer base. Oh yes, and now you can start working on that beautiful logo!
5. Tell your Audience what Makes your Event Business Unique
Once you have completed the first four steps, the next vital component of setting up a successful event planning business is how you communicate what makes you unique in comparison with other businesses. Event planning is a visual medium and here at Letter Boutique, we can help you in standing out from the crowd through the use of neon signs. We have signs that you as an event planner can use for every occasion - weddings, parties, or corporate events. Let us help you stand out, contact us for a quote for any of your neon sign needs!
Go on, fear not: Dream Big then Execute Well!
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